Given the way markets have moved in the month of April, Amit Trivedi, co-founder, Investworks.in believes May could see markets moving higher. Talking to CNBC-TV18, he says his target for Nifty is at around the 6,000 levels.
This is coming predominantly from the fact that there are rate cut expectations from the Reserve Bank of India (RBI) and European Central Bank (ECB), plus the continuation of stimulus from Bank of Japan (BoJ) and the US Federal Reserve. Also compared to developed markets, emerging markets (EM) have still not reached a valuation level which is alarming. So, there could be some kind of rally. One can buy ICICI Bank at around Rs 1131 levels for a target of around Rs 1180-1200 in days to come, and place a stop loss at Rs 1080 in this particular stock.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
